Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by threeseed on Monday January 09, 2023 @08:18PM (#34319011)

> if I were a bank, bitcoin presents a compelling argument. The supply is finite.

I've worked at a number of banks now and what keeps them up at night isn't how much money they could make or what competitive technologies like Bitcoin are doing.

It's their ability to consistently operate with the increasingly tight regulatory guard-rails imposed by the government. And Bitcoin's incompatibility with KYC and AML regulations render it unpalatable for most financial organisations.

[ Parent | on HN ]

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by orangepurple on Tuesday January 10, 2023 @12:00AM (#34320733)

So many financial institutions use Watchtower for their risk assessment framework and I think they are adding crypto risk management to their portfolio

[ Parent | on HN ]